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Media Info
 Debt counsellors approach banks with white flag to get more help for consumers
24 November 2009
The Debt Counsellors Association of South Africa has vowed to improve relations with banks and other credit providers to allay some of the conflict that some say has slowed assistance to heavily indebted consumers.
At present more than 150000 of 17,4m credit active consumers are under debt review in South Africa and that figure is increasing by 10000 a month, by contrast there are a little more than 3000 debt counsellors struggling to assist them.
Court delays are until March 2011 with contested claims. Newly elected vice president of the DCASA, Andre Snyman who is also CEO of South Africa's largest debt counselling company, Consumer Assist said that increasingly banks were starting to realise that debt counselling was bringing money back into creditors pockets, while helping consumers and reducing legal bills and animosity.
Tony Richards who heads debt counselling organisation, Octogen was re-elected president of DCASA.
At the annual general meeting of the DCASA near Oliver Tambo International Airport last week (10 November), Banking Association of SA CEO, Cas Coovadia agreed that the National Credit Act had ensured South Africa had not faced a recession as bad as in the USA or Europe. He invited closer links between debt counsellors and banks to resolve ongoing problems around extensive consumer indebtedness.
Snyman said: "banks want to co-operate and find resolution, we went through an earlier period of mistrust and conflict but that is disappearing as banks realise that debt counselling works to benefit all."
He said that in 2010 DCASA intended doing refresher training for debt counsellors to complement similar courses being run by the National Credit Regulator, "we also aim to improve the sharing of information especially that relating to court cases and legislative changes.
"There are also some provinces that experience significant problems with debt that have been poorly canvassed by debt counsellors, the Eastern Cape is an example, and we attend to change that with deliberate efforts to extend our reach in those provinces."
FOR FURTHER INFORMATION www.consumerassist.co.za 0861 21 22 23 debt counselling call centre
Andre Snyman - CEO - Consumer Assist
aurelia.espag@consumerassist.co.za / 011 654 6018 (Languages: English, Afrikaans)
Source: FA News
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